Office Max

In 1988, entrepreneurs Michael Feuer and Robert Hurwitz launched OfficeMax in Cleveland, Ohio, with a clear blueprint: create a discount superstore for office supplies. Their first store opened on July 5, 1988, in Mayfield Heights. The concept quickly proved successful, leading to rapid expansion. A key early move came in 1990 when Kmart invested in the company, eventually acquiring a majority stake a year later, which provided the capital for significant growth through acquisitions like Office Warehouse and Bizmart. A pivotal moment arrived in 1994 when OfficeMax went public with what was, at the time, the largest IPO in retail chain history. This event allowed Kmart to begin reducing its ownership, and by 1995, OfficeMax was fully independent again after a second stock offering. For years, the company was a major player in the office supply industry, competing with rivals like Office Depot and Staples. The landscape, however, was changing. In 2003, Boise Cascade Corporation acquired OfficeMax, only to spin it off again the following year under the OfficeMax name. The final chapter for OfficeMax as an independent entity was written in 2013. On November 5, the company completed a merger with its longtime competitor, Office Depot. This all-stock deal created one of the largest office supply chains in the United States, with OfficeMax becoming a brand under the new Office Depot, Inc. parent company.